Clorox Revises Guidance
Clorox
(CLX) - Get Report
Wednesday offered mixed revised guidance for the next two quarters.
EPS was increased by 2 cents for the third quarter to 65 cents to 71 cents based on continuing operations, but lowered by 2 cents for the fourth quarter to 91 cents to 97 cents. Analysts expect 65 cents and 96 cents, respectively, for the third and fourth quarters, according to Thomson First Call.
For full-year 2005, which ends June 30,Clorox said it continues to anticipate sales growth of 3% to 5%. EPS is seen at $5.95 to $6.05 a share on a GAAP basis and $2.72 to $2.82 based on continuing operations.
The consensus estimate is for $2.76 a share.
Clorox said the revised outlook reflects updates in the timing of certain tax-related items in the third and fourth quarters.
Oakland, Calif.-based Clorox said the outlook "includes the previously communicated discontinued operations treatment of the company's historical results to reflect the impact of its share exchange with Henkel of Germany," adding that continuing operations will not be impacted.
Shares fell 11 cents to 60.94.